Bitcoin& Ethereum Market Analysis Indicators of Recovery and Investor Sentiment

On Saturday, the price of Bitcoin remained near $42,200 with a daily increase of 1% according to CoinGlass data. The trading volume in cryptocurrency derivatives significantly decreased by 55%, dropping to $21.50 billion. Nevertheless, Bitcoin’s total market value remained at $828.78 billion, and the open interest (OI) for Bitcoin was reported at $17.98 billion. Over 24 hours, liquidations exceeding $13.37 million could indicate selling pressure. While the traded volume fell by approximately 50% to $8.44 billion, the total market value was $275.03 billion. Ethereum’s OI was $7.79 billion, with total liquidations at $4.35 million. IntoTheBlock’s measurements revealed enlightening details about the two cryptocurrencies.

Bitcoin’s large transaction volume fell by 39.08% to $25.93 billion, which could indicate a decrease in high-value transactions. Daily active addresses reflected an increase in user activity, rising by 7.76% to 979,300. The balance of holders slightly increased to $581.26 billion. Notably, exchange net flows saw a significant decrease of 129.87%, reaching a negative $71.71 million.